Financing ·
DTI engages bank to arrange up to $375M senior secured bond issue for Saltire acquisition
DTIDrilling Tools International Corp
Drilling Tools International engaged a Norwegian investment bank to arrange a U.S. dollar-denominated senior secured bond issue in the Nordic market, commencing October 14, 2026. The contemplated issuance is expected to raise up to $375 million and would be offered exclusively to qualified institutional buyers under Rule 144A and non-U.S. persons under Regulation S. Proceeds are intended to partially finance the previously announced acquisition of Saltire Energy Limited, repay existing term loans in full, reduce a portion of its asset-based revolving credit facility, and fund general corporate purposes. The transaction remains subject to market conditions and has not been finalized. Drilling Tools International provides oilfield services and equipment for drilling operations.